MNI China Daily Summary: Friday, January 10

MNI BRIEF: China To Adopt Very Proactive Fiscal Policy-Offical

CANADA LIBERAL LEADERHIP VOTE TO REPLACE TRUDEAU SET FOR MAR 9

MNI BRIEF: PBOC Suspends Bonds Trades As Yields Drop

MNI: PBOC Net Drains CNY14.8 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1891 Fri; -2.36% Y/Y

USDA: CORN STOCKS 12,074M BSL ON JAN 1

MNI: USDA: 2024/2025 CORN PRODUCTION EST 14.87B BSL

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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CREDIT UPDATE: EUR Market Wrap

CREDIT UPDATE
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  • Bunds look set to close 3-5bp wider with 2y/10y yields at 2.06%/2.33% - DM team flagged that front-end to belly driven weakness in USTs continues to limit recoveries from lows in EGBs. US data in the PM did little to prevent the grind wider.
  • Main/XO are closing +0.6bp/+2bp at 57.1bp/311bp while €IG looks -0.3bp on average. €IG curve movers include WMG (4-5 tighter), WLNFP (3-5 tighter).
  • SXXP/SPX are flat at 503pts/5933pts. €IG's biggest risers/fallers include Novo Nordisk A/S (+6%), Vestas Wind Systems A/S (+5%), Honda Motor Co Ltd (+4%), Brown-Forman Corp (-4%).
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  • Bunds look set to close 3-5bp wider with 2y/10y yields at 2.06%/2.33% - DM team flagged that front-end to belly driven weakness in USTs continues to limit recoveries from lows in EGBs. US data in the PM did little to prevent the grind wider.
  • Main/XO are closing +0.6bp/+2bp at 57.1bp/311bp while €IG looks -0.3bp on average. €IG curve movers include WMG (4-5 tighter), WLNFP (3-5 tighter).
  • SXXP/SPX are flat at 503pts/5933pts. €IG's biggest risers/fallers include Novo Nordisk A/S (+6%), Vestas Wind Systems A/S (+5%), Honda Motor Co Ltd (+4%), Brown-Forman Corp (-4%).